New Delhi: State-owned GAIL India Ltd. on Wednesday declared the a rise in its quarterly profit on higher than other income and a fall in total expenditure in the financial results.
The net profit of the gas distributor rose by 28 per cent sequentially Rs. 1,908 crores in the January-March period (Q4) as compared to Rs. 1,487 crore in Q3, according to the report.
The Profit before Tax (PBT) in Q4 FY21 increased by 40 per cent to Rs. 2,612 crore as against Rs. 1,868 crore in previous Q3 FY21.
Operating profit rose 33.6 per cent to Rs 2,564.8 crore, other income rose 20.7 per cent to Rs 568.4 crore, operating margin expanded to 16.5 per cent from 12.4 per cent.
The total expenditure fell by 4 per cent to Rs 13,505.9 crore.
The financial reports indicate that for the entire 2020-21, the standalone turnover, PBT and PAT stood at Rs. 56,529 crore, Rs. 6,386 crore and Rs. 4,890 crore respectively.
The consolidated group turnover for FY21 stood at Rs. 57,208 crore, PBT was Rs. 7,725 crore and PAT was Rs. 6,136 crore.
Meanwhile, the sales increased by 18 per cent to 871 TMT, the petrochemical plant recorded the highest ever production of 813 TMT.
"The petrochemical segment reported a PBT of Rs. 1,027 crore in FY 2021 on account of better physical performance and improved price realization," the communique mentioned. GAIL's management has given a thrust to expand in the areas of compressed biogas, ethanol and renewable energy. Further, it is undertaking several initiatives to diversify in these areas.
The authority also claimed that the operations of the plant and pipelines were stable and no major shutdown took place during FY 2020-21.
During this year, the company's Capex was Rs. 6,982 crores mainly on pipelines, CMD Manoj Jain claimed. However, the data shows that its transmission services segment revenue declined by 5 per cent.
Meanwhile, India's gas consumption rose by 0.2 per cent quarter-on-quarter to 158.9 million standard cubic metres per day in the reported period.
The shares of GAIL, however, fell as much as 5.6 per cent after the results were announced, compared with a 0.1 per cent drop in the benchmark BSE Sensex.